Uganda Shilling Slumps to Two-Year Low as FX Demand Soars
The Ugandan shilling has dropped to a two-year low against the U.S. dollar due to a significant surge in foreign-exchange demand. This decline is primarily driven by increased requirements for foreign currency within the energy, manufacturing, and telecommunications sectors.
Uganda’s shilling slumped to a two-year low against the dollar, weighed down by a surge in demand for foreign-exchange in key economic sectors including energy, manufacturing and telecommunications.
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